You can lease a Buick as a more affordable alternative to financing a newer vehicle, but it’s important to understand the costs and terms involved in leasing before you enter an agreement.

To buy, or to lease

? Leasing is a desirable option for those who aren’t dead-set on owning their car. Similar to renting an apartment, leasing allows you to walk away from the vehicle once the term has ended. But in order to enjoy all the benefits of leasing a Buick, you also need to be aware of the potential downsides, such as the costs and restrictions you’ll be agreeing to if you sign your name to one.

Here to answer all your questions about leasing is

car insurance

comparison and licensed broker expert

Jerry

. In this article, we’ll go over what goes into the leasing process, how much it will cost you, and what happens at the end of a lease. Here’s everything you need to know about a Buick lease—and finding deals on

Buick insurance costs

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How to lease a Buick

Buick offers a wide selection of vehicles available for lease—but signing a lease is not a situation you want to rush into. Before you head to the dealership, you should already have a few key pieces of information worked out so that you can sign your lease agreement with confidence. Let’s take a look:

Check your credit score. You’ll need to know exactly what your credit score is before you begin to discuss your lease term. Leasing typically requires a higher credit score than getting approved for a car loan does—a score of at least 700 is needed to be a good candidate for a lease.

Create a leasing budget. Give your financial situation a thorough look so that you know what you can afford. If your monthly lease payment costs more than 15% of what you make each month, it’s probably not a wise financial decision.

Decide how much you can pay up front. At the time of signing, you’ll be expected to pay your

down payment

, the first monthly lease payment, plus taxes and fees—so be prepared to drop anywhere between $1,155 to $1,955 before you get the keys.

Calculate how many miles you drive per year. A standard lease comes with a yearly mileage limit, usually between 10,000 and 15,000 miles. If you’ve got your heart set on road trips with the family or have a long daily commute to work, you may want to think about opting for a high-mileage lease that will allow you to put up to 20,000 miles on your Buick each year.

After you’ve taken a long, hard look at your finances and driving patterns, you are ready to compare

lease offers

. The most popular Buick models available for lease are the

Encore GX

and the

Envision

. Both are stylish, comfortable compact SUVs, with the Encore being the slightly larger of the two.

Both vehicles are comparable in price— but the Envision’s slightly larger engine and roomier cargo space account for it carrying a higher average monthly lease amount than the Encore GX.

Whichever Buick model you decide on, remember to adhere to your budget. Auto dealers will try to entice you with cool, techy upgrades or body-style enhancements because it’s part of their job. When you have a firm figure in place of what you’re able to spend on your lease, it’ll be easier to turn down expensive add-ons.

MORE:

How to lease a car

The final step: shop for insurance

As you crunch the numbers for your lease budget, remember to factor in how much you’ll pay for car insurance. Leases do not come with an insurance policy, so to ensure you’re getting the cheapest price on coverage, give

Jerry

a try.

Jerry is a car insurance comparison genius that finds you the best deals quickly and easily. Once you download the free app, all you’ll need to do is answer a few basic questions about you and your Buick, and in under a minute, Jerry puts together a list of the most competitive quotes from over 50 top-rated insurance companies. Drivers who use Jerry save an average of $887 a year!

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How to calculate a lease payment

How much does a Buick lease cost?

Part of what attracts drivers to lease rather than buy is the money you’ll save by choosing not to finance a vehicle. But how much will you really save by leasing a Buick instead of buying one? One way to determine your potential savings is to add up all of the costs associated with your lease. These expenses include:

Which model you choose to lease

The price you’ve negotiated on your lease agreement

Your lease term

The money factor (the interest you’ll pay on the lease, also called a rent charge)

The cost of any additional accessories or upgrades you’ve purchased

How much you’ll pay in sales tax in the state where you live

Most drivers sign on for a 36-month term, but 24-month terms are also pretty common. It’s possible to get a better deal if you take advantage of a seasonal promotion offered by the dealership, but overall you should anticipate a monthly lease payment for a Buick to be anywhere from $426 for a

GX Select

(that’s the upgraded version of the Encore) and $572 for the

Envision Essence

(a step up from the standard Encore).

These numbers are based on lease agreements for drivers who have an excellent credit score.

It’s also important to know what you’re getting into when it comes to the amount due at signing. Let’s say you’ve decided to lease the Buick GX Select at the price of $426 per month. At the time of signing, you’ll need to pay for the following:

The first month’s payment: $426

Your down payment: $1,000

The acquisition fee (what you need to pay to drive the car): $695

With all this in mind, you’re looking at an amount due at signing that totals $2,121. Be aware that this doesn’t cover what you’ll need to pay in sales tax or for any additional upgrades you selected at the dealership.

Services included in a Buick lease

One of the benefits of leasing a Buick is that the varied maintenance costs that come with financing a vehicle are generally of little to no concern to the lessee. The reason for this is that you’ll likely be protected under warranty for the bulk of your lease term—if not all of it. You’ll also get to enjoy having your first scheduled maintenance visit for free while you’re leasing a model between the years 2020 and 2022.

Here’s what the maintenance visit will cover:

Oil change

4-tire rotation

Vehicle inspection

To get the full details of the services and warranty included with your Buick lease, check out the

Buick website

Key takeaway Sign-on costs of a lease can be steep, but you’ll reap the benefits of being covered under warranty and getting complimentary maintenance when you lease a Buick.

What to do when your Buick lease is up

As your lease term draws to a close, you’ll need to decide how you want to proceed. Typically, lessees will choose from the following options when their lease ends:

Return the vehicle with no strings attached

Purchase the vehicle

Sign on for a lease extension (restrictions may apply)

How to return a leased Buick

Follow this set of steps when you need to return your leased Buick:

First, schedule a

vehicle inspection

, preferably at the dealership where you leased the Buick. To set up an inspection at your home or place of work, go to

AutoVINLive.com

or call 1-800-556-2811 to schedule this complimentary service.

Review the inspector’s damage report and repair any components that are in need of fixing. Be sure to check if any of this maintenance is covered under your warranty.

Arrive at the dealership with your Buick cleaned and free of your personal belongings.

Pay any applicable fees, such as any wear and tear charges and the disposition fee (turn-in fee), which will cost about $495 or less.

How to purchase a leased Buick

Are you in love with your leased vehicle? Do you want to keep it? With Buick, you most certainly have the option to buy out your lease.

If you choose to purchase your leased Buick, you’ll need to contact the GM dealer where you signed your lease so you can go over the financials. To get a payoff quote, give GM Financial a call at 1-800-436-1463.

MORE:

Buick car buying guide

How to find affordable car insurance for a Buick

Regardless of whether you continue leasing or decide to buy out, give your Buick the protection it deserves by purchasing a great insurance policy. That’s where

car insurance

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Buick insurance costs

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FAQ

What if I want to stop my lease?

Early termination of your Buick lease is permitted, but you will still be subject to reimburse what you owe. Consult your lease agreement for the details about voluntary termination or call GM Financial for details at 1-800-284-2271.

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